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It the elasticity of demand for good x is minus 0.4 at the price P= $5 and quantity Q = 1000, what is the value

It the elasticity of demand for good x is minus 0.4 at the price P= $5 and quantity Q = 1000, what is the value of the parameter b if the demand function is of the form Q = A + bP? (Multiple choice)

  1. Minus 50
  2. Minus 45
  3. Minus 75
  4. Minus 80
  5. None of the above.

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